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We are also going to drive the content diversity by exploring opportunities in some of the non-talent show areas to appeal to a broader user base.
Number two, we are working more closely with the professional agencies in talent discovery and management, optimizing our incentive plans and making them better motivated to help us improve the content quality and diversity.
We believe that audio-based streaming services, if we get the products right, can significantly bring down the barriers for users to participate in live interaction experiences.
In the third quarter, we fully rolled out the new algorithm powering our video content recommendation engine.
Momo (NASDAQ: MOMO) Q3 2017 Earnings Conference Call November 28, 2017 AM ET Executives Cathy Peng - Director, Investor Relations Tang Yan - Co-Founder, Chairman and Chief Executive Officer Wang Li - Co-President and Chief Operating Officer Jonathan Zhang - Chief Financial Officer Analysts Jialong Shi - Nomura Securities Fan Liu - Goldman Sachs Greg Zhu - Credit Suisse Tian Hou - TH Capital Chen Wang - TF Securities Operator Ladies and gentlemen thank you for standing by and welcome to the Third Quarter 2017 Momo Incorporation’s Earnings Conference Call. Hello everyone and thank for joining us today for Momo’s third quarter 2017 earnings conference call. Wang will discuss Momo’s business operations and company highlights followed by Mr. Tang Yan [Foreign Language] Good morning and good evening everyone. I’m happy here to deliver another solid quarter with strong financial performance and progresses in other operational areas.
At this time, all participants are in a listen-only mode. The company’s results were released earlier today and are available on the company’s IR website. Tang Yan, Co-Founder, Chairman and Chief Executive Officer; Mr. Jon who will go through the financials and guidance. [Foreign Language] Total revenues hit another record high at 4 million for the third quarter of 2017, up 126% on a year-over-year basis.
At the same time, we are seeing bigger players with strong community ecosystems taking initiatives to upgrade their content offerings and multi-share shifting from amateur broadcasters to more professional ones.
We believe content building, as well as talent recruitment and management are becoming increasingly important as core competitive advantages in live streaming business.
[Foreign Language] Before turning the call over to Wang Li, I like to share with you some of our recent observations in the live streaming market and the strategic thinking with regards to those trends.